TL;DR
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Full Story
ICON has partnered with Hashlock to perform external audits on the Solidity contracts for Balanced and ICON’s General Message Passing. Auditing is a crucial step for any major project release and Hashlock brings a world class security team to follow up on our own internal audit process.
This audit marks a major consolidative step for the integration efforts of Balanced and ICON GMP, ensuring the security of work done as we continue to deliver on our interoperability goals. Balanced is ICON’s Flagship DeFi protocol, leveraging ICON’s General Message Passing (GMP) to facilitate seamless cross-chain swaps and loans across a range of connected chains.
Hashlock’s initial round of audits with our Solidity contracts concluded in June and all necessary fixes from Hashlock’s summary report have been implemented. We can now proceed with confidence as we integrate with more Solidity based chains, growing on Balanced’s current front-end connections with Avalanche, BNB Chain, Arbitrum and Base.
Hashlock’s Interactive Approach
Hashlock's approach to smart contract auditing is both comprehensive and collaborative, perfectly aligning with our commitment to excellence and security. Here’s how their process proposes to enhance the security and functionality for Balanced and ICON GMP:
Thorough Code Examination
The process starts with an in-depth review of our smart contract code. Hashlock's team meticulously examines each line of code, ensuring no stone is left unturned.
Collaborative Engagement
Hashlock believes in working closely with protocols throughout the auditing process. This interactive collaboration allows them to gain a deeper understanding of Balanced and ICON’s specific requirements and the intended functionality of our smart contracts. Continuous communication ensures that any identified issues are promptly addressed and rectified.
Dual Testing Approach
Hashlock employs a blend of automated and manual testing to cover all bases. Automated tools quickly detect common vulnerabilities such as reentrancy attacks and overflow/underflow issues, while manual analysis uncovers more complex and subtle problems that automated tools might miss.
Real-World Scenario Simulation
To ensure smart contracts can withstand real-world conditions, Hashlock simulates various attack scenarios and stress tests. These simulations help evaluate contracts' resilience against potential exploits and assess their performance under different load conditions, ensuring robustness in practice.
Ongoing Improvement
Hashlock’s commitment to excellence extends beyond the initial audit. They provide detailed reports with their findings and actionable recommendations for improvement. Moreover, their team remains available for post-audit support, assisting us in implementing necessary fixes and enhancements.
Continual Optimization for Balanced
ICON and the Balanced team are dedicated to providing a secure, efficient, and trustworthy platform for users. Hashlock’s expert auditing services promise to meet and exceed these standards, ensuring a safer and more reliable DeFi experience for all.
Our partnership with Hashlock reflects our unwavering commitment to security, promising enhancements through early identification and resolution; improved functionality, through ongoing contract recommendations; and increased trust, as in the high-stakes world of DeFi, thorough auditing is fundamental.